Artikel
Selection of discrete multiple criteria decision making methods in the presence of risk and uncertainty
This paper presents a new methodology to recommend the most suitable Multi-Criteria Decision Making (MCDM) method from a subset of candidate methods when risk and uncertainty are anticipated. A structured approach has been created based on an analysis of MCDM problems and methods characteristics. Outcomes of this analysis provide decision makers with a suggested group of candidate methods for their problem. Sensitivity analysis is applied to the suggested group of candidate methods to analyze the robustness of outputs when risk and uncertainty are anticipated. A MCDM method is automatically selected that delivers the most robust outcome. MCDM methods dealing with discrete sets of alternatives are considered. Numerical examples are presented where some MCDM methods are compared and recommended by calculating the minimum percentage change in criteria weights and performance measures required to alter the ranking of any two alternatives. A MCDM method will be recommended based on a best compromise in minimum percentage change required in inputs to alter the ranking of alternatives. Different cases are considered and some new propositions are presented based on potential generalized scenarios of MCDM problems.
- Language
-
Englisch
- Bibliographic citation
-
Journal: Operations Research Perspectives ; ISSN: 2214-7160 ; Volume: 5 ; Year: 2018 ; Pages: 357-370 ; Amsterdam: Elsevier
- Classification
-
Wirtschaft
- Subject
-
Multiple criteria analysis
Robustness
Sensitivity
Decision making
Criteria weights
Performance
- Event
-
Geistige Schöpfung
- (who)
-
Haddad, Malik
Sanders, David
- Event
-
Veröffentlichung
- (who)
-
Elsevier
- (where)
-
Amsterdam
- (when)
-
2018
- DOI
-
doi:10.1016/j.orp.2018.10.003
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Haddad, Malik
- Sanders, David
- Elsevier
Time of origin
- 2018
Other Objects (12)
Contracting in the presence of uncertainty
Contracting in the Presence of Uncertainty
On Knightian uncertainty models : optimal behavior in presence of model uncertainty
Competition in the Presence of Individual Demand Uncertainty
Competition in the Presence of Individual Demand Uncertainty
Health care demand in the presence of discrete price changes
Drift criteria for persistence of discrete stochastic processes on the line
Continuous and discrete uncertainty principles
Valuation of financial contingent claims in the presence of model uncertainty
Discrete time Markov control processes : basic optimality criteria
Optimal forecasts in the presence of discrete structural breaks under long memory
Optimal forecasts in the presence of discrete structural breaks under long memory
Contracting in the presence of uncertainty
Contracting in the Presence of Uncertainty
On Knightian uncertainty models : optimal behavior in presence of model uncertainty
Competition in the Presence of Individual Demand Uncertainty
Competition in the Presence of Individual Demand Uncertainty
Health care demand in the presence of discrete price changes
Drift criteria for persistence of discrete stochastic processes on the line
Continuous and discrete uncertainty principles
Valuation of financial contingent claims in the presence of model uncertainty
Discrete time Markov control processes : basic optimality criteria
Optimal forecasts in the presence of discrete structural breaks under long memory
Optimal forecasts in the presence of discrete structural breaks under long memory
Contracting in the presence of uncertainty
Contracting in the Presence of Uncertainty
On Knightian uncertainty models : optimal behavior in presence of model uncertainty
Competition in the Presence of Individual Demand Uncertainty
Competition in the Presence of Individual Demand Uncertainty
Health care demand in the presence of discrete price changes
Drift criteria for persistence of discrete stochastic processes on the line
Continuous and discrete uncertainty principles
Valuation of financial contingent claims in the presence of model uncertainty
Discrete time Markov control processes : basic optimality criteria
Optimal forecasts in the presence of discrete structural breaks under long memory